Price statistics BUSD
How much is Binance USD (price busd) now?
The current 2023.12.01 09:10 value of Binance USD (busd) against USD is 1.
Where can I buy or trade Binance USD (busd)?
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How much was Binance USD worth at the peak of the market?
Binance USD was worth the maximum :price :date
What was the minimum cost of Binance USD?
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Binance USD price today is $1 with a daily trading volume of 3309675591. We update our Binance USD price to USD in real time. Binance USD has changed to 0.17161% in the last 24 hours. The current CoinLiq rating is #42 with a market cap of $1666276465.
Binance USD (BUSD) Overview
Binance USD (BUSD) is an experimental stablecoin released by the popular cryptocurrency exchange Binance on June 27, 2019. Binance USD is pegged 1:1 to the US dollar (USD) and offered as an optional trading pair on the Binance. The purpose of Binance USD is to provide a safe and easy way to trade US Dollars (USD) for cryptocurrencies. The project is managed by a Binance company.Read more
Binance USD (BUSD) Stablecoin
A stablecoin is a digital asset designed to act like a traditional fiat currency. Stablecoins are built with stability in mind, as their value should stay relatively stable compared to other cryptocurrencies. Many people also use stablecoins as a way to avoid the fluctuations that often come with the more popular cryptocurrencies. Stablecoins also provide users with additional security as a result of their stability. Stablecoins are also useful for institutions that want to trade in a more traditional manner without the unpredictability of the price of cryptocurrencies. Stablecoins are often pegged 1:1 to a traditional fiat currency to provide users with guaranteed value. The most popular stablecoins are USDT, USDC, BUSD.
Binance USD (BUSD) has several advantages over other stablecoins. First, it is based on the same technology as Binance Coin (BNB), Binance's own cryptocurrency. This means that existing Binance users can seamlessly convert their BNB into BUSD without any additional steps. Second, BNB was specifically designed to be used as a base currency on the Binance and Binance DEX, so traders can rest assured that their BNB will always be accepted. Third, Binance USD is fully backed by the US Dollar (USD) with a total guarantee of 1:1. This level of backing provides users with the reassurance to know their money is safe. Fourth, Binance can maintain close control of the coin supply as a result of its 1:1 peg to USD. This eliminates the need to worry about sudden changes to the price of the coin due to speculation or market volatility. Fifth, Binance is one of the biggest and most popular cryptocurrency exchanges in the world, with over 40 million transactions per day, as of May 2021.
One of the main concerns about most cryptocurrencies is their susceptibility to extreme price fluctuations. Stablecoins are specifically designed to avoid these fluctuations by being pegged to a traditional fiat currency. As a result, Stablecoin holders are largely protected from the impacts of market volatility. Users can rest assured that their investments in stablecoins will stay relatively stable, at least in comparison to other cryptocurrencies.
Binance developed a seven phase plan to bring the Binance USD stablecoin to market. The first phase of development focused on sourcing and testing the peg. During this phase, Binance worked with banks, investment firms, and currency exchange platforms to secure the required funding and ensure the peg was being maintained. Phase two focused on designing and creating Binance USD. During this phase, the company conducted extensive research into traditional fiat currencies, cryptoassets, and stablecoins to ensure that their model could accurately keep the value of one USD pegged to the value of one BUSD. Phases three through seven focused on expanding the use of Binance USD and preparing for the eventual launch of the coin. In addition to the above, please refer to the Binance USD whitepaper for an up-to-date roadmap.
As of June 27, 2019, Binance has listed the BUSD — U.S. Dollar (USD) pair on the Binance, as well as the Euro (EUR), Japanese yen (JPY), and Russian rouble (RUB) — and GBP — London pound sterling — pairs on major crypto-to-crypto trading platforms including Binance and OKEx. Additional fiat currency pairs will be added over time as the demand for Binance USD increases.